Personally, I really didn’t like vegetables growing up. One night at the dinner table I gawked at the vegetable soup and the proverbial spoon hit the fan! He exploded, do you know when I was a child, we would eat out of the garbage, any food we found we would bring home so my mother could make a meal for us. My Father (Grandfather) was away, working all over the world, sending whatever he could afford so that we could live. They were tough times! Now, Tina,(referring to my Mom), make vegetable soup and nothing else for the whole week! It was a nightmare, I gagged every night. You are probably asking yourself did I eat it? In reality, I was born to Calabrese parents so they have a reputation for being stubborn as well as hard-headed, Voula! genetics (DNA) do wonders, absolutely not!

Eventually, in my late teens and travelling to Italy with my cousin, I appreciated all food and came back as a new man. A little plumper but a new man willing to experiment and living by the motto, “try it if you don’t like it, at least you know. when being forced to appreciate anything it never works and ultimately fails!

Speaking of failure, the Central Banks have become a shell game of truth and purpose. In the case of the Bank of Canada(BOC) established in 1938, the purpose was to allow the Government to borrow money after the Great Depression. Funds were needed to help build infrastructure, finance war and stimulate economic growth.

After the end of World War II, the soldiers returned. They had to be employed to support their new families. A boom in every sense of the word took place, yet the government needed to borrow to help build roads, homes, schools, universities, social programs and health care facilities. We the People, actually own the Bank of Canada and this accumulated debt would be paid for through taxes collected.

Up until 1973, the National debt was approximately $17B. Consequently, in 1974, the government stopped borrowing directly from the BOC and instead started borrowing from Private institutions (Banks). They created a middle man which borrowing now developed with compound interest.  The banks would borrow from the BOC and in turn, the consumer would borrow from the banks. This automatically increased the money supply and the result was inflation!

In less than 10 years, the first food bank was established in Canada in 1981. The National Deficit ballooned to $71B. All political parties are aware of this method of enriching the banks at the expense of the taxpayer and consumer. Yet it is all window dressing depending on which party is in power.

Today, inflation is out of control and possibly double the official 8.7% stated by the government. The National Deficit is well over $1 Trillion as everyday life becomes more difficult for those not earning enough to support a family or themselves. The middleman (Private Lenders or Banks), need to be eliminated from Government using the banks to borrow money. A 1% Increase in interest rates, costs the Taxpayer $13 Billion to finance enriching these institutions and shareholders alone. Meanwhile, government spending has to be kept under control. A simple solution would be to make most of these unqualified politicians accountable & transparent for their actions. It would be a fresh start to managing the country’s finances while lifting many out of unnecessary poverty. 

Click here for an honest perspective of reality.

https://www.tiktok.com/@silversingle/video/7124463605218577669

While inflation has been the direct result of Central Banks’ money printing, the goal is to maintain a 2% cap. Do increasing interest rates seem to be the only solution they are willing to impose much like a vaccine? Either way, causing pain to the people by increasing the cost of living or cutting back on services provided. No pain, no gain!

Nonetheless, the USD Index recaptures the 106.50 level, more based on the prospect of continued hikes in interest rates regardless of consequences. Precious Metals pull back slightly after rallying nicely. Gold is presently around the $1760/oz level while Silver is close to the $20/oz level. On the other hand, Oil slips below $91/B as the price is being manipulated to try as desperately as possible to bring inflation down. Gasoline prices would be the best way to achieve a significant reduction in inflation as it is one variable that is consistent in the ever-changing basket of goods used to measure our cost of living. The Cad$ presently trades around the 0.7780 cent level.